Bitcoin News Today: Bitcoin's 1000-Day Bull Run Nears $118K Gap Fill

Bitcoin's ongoing bullish phase has now extended beyond 1000 days, drawing attention from both retail and institutional investors amid speculation that a significant price move may be on the horizon. As the price hovers around $118,000, the market is watching closely for a potential fill of a key CME gap, which could act as a catalyst for further upward momentum. According to Merlijn The Trader, this gap—visible on Bitcoin’s CME futures chart—has become a focal point, with the $118,000 level described as “the magnet” [1]. He argues that filling this gap historically has led to subsequent upward legs in Bitcoin’s price movement [1].

The extended bullish cycle is one of the longest in Bitcoin’s history. Analyst Juan Rodríguez noted that based on past trends, the current phase could continue for at least two more months [1]. However, he cautioned that while history provides insight, it does not guarantee future performance. Recent price volatility, including a brief surge to $122,000, underscores the influence of macroeconomic factors and the unpredictable nature of the market [1].

A potential driver of continued price gains is growing institutional interest. Rodríguez highlighted that U.S. pension funds and other institutional players could begin allocating capital to Bitcoin, which could significantly boost demand and price momentum [1]. This aligns with recent on-chain data showing a rise in Bitcoin accumulation by large holders. According to Crypto Rover, the number of addresses holding at least 100 BTC has increased sharply in recent months, indicating strategic buying by whales and institutional investors [1]. This accumulation trend is often interpreted as a sign of long-term confidence in the asset.

Retail investors, however, may be more cautious amid recent price dips. Merlijn The Trader suggested that while inexperienced traders might panic during these pullbacks, more seasoned investors view them as buying opportunities [1]. The current price of $118,597 reflects a 2.16% decline over the past 24 hours, but the overall 24-hour trading volume remains strong at $75 billion, signaling sustained market participation [1]. Analysts remain divided on whether the dip signals a temporary correction or a larger market shift, but the broader narrative continues to emphasize long-term bullish sentiment.

As Bitcoin enters the final stretch of its extended bull run, the market awaits further signs of institutional entry, macroeconomic developments, and key technical levels. The coming weeks will be critical in determining whether the $118K gap fill becomes a reality and what it may mean for the trajectory of Bitcoin’s price.

Source: [1] Bitcoin Bull Run Surpasses 1000 Days, with $118K Gap Fill in Sight (https://coinmarketcap.com/community/articles/689b26b565b2ba30b64e2519/)